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Regime: Mixed. The VIX at 18.74 and rising, coupled with falling US yields, suggests a cautious risk environment, but US equity futures are showing resilience. Today’s market themes: Real-rate repricing continues, pressuring gold and tech. USD strength persists, with intervention watch for JPY. Oil supply concerns are being overshadowed by demand…
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Where we are: The DXY is trading up 0.32% on the day at 101.73, pushing higher after a strong overnight session that saw it hit 13-month highs according to wire reports. This move has extended the Dollar’s gains from yesterday, where it saw a significant uptick. We’re currently sitting above yesterday’s…
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Where we are: S&P 500 futures are trading up 0.28% at 7458.25, clawing back some of yesterday’s losses. The cash index closed down 1.44% yesterday, dragged lower by a sharp sell-off in semiconductor stocks. We’re seeing a tentative stabilisation in tech names this morning, but the broader sentiment remains cautious as…
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Where we are: Gold is trading down sharply this morning, breaking below the $4,100 mark and testing levels not seen in seven months. The COMEX contract is currently off 2.89% day-on-day at $4,029.4. This move represents a significant break from the overnight range, which saw some minor volatility but no clear…
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Where we are: EUR/USD is trading at 1.1334, down 0.47% on the day, having dipped to a fresh one-year low overnight. The pair is trading below yesterday’s New York close and is testing key support around the 1.1300 psychological level. The intraday range has been capped by the overnight weakness, with…
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Where we are: Nasdaq futures are trading up 0.49% at 29811.00, showing a modest recovery from yesterday’s sharp 3.29% decline in the cash index. This bounce attempts to claw back some of the $1.3 trillion rout seen in tech, particularly within the semiconductor space, driven by AI spending jitters. We are…
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Where we are: GBP/USD is trading at 1.3150, down 0.40% on the day. The pair has drifted lower through the European session, failing to recapture yesterday’s New York close. We’re seeing a clear bearish bias intraday, with immediate support seen at the 1.3120 level. What’s driving it: The Bank of England’s…
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Where we are: USD/JPY is trading at 161.72, up 0.11% on the day and continuing its march towards the 162 handle. The pair has traded in a tight range overnight, hovering just above yesterday’s New York close. We’re seeing a slight bid under the dollar across the board, but the Yen…
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Where we are: The Dow futures are trading fractionally higher at 52113, a modest gain of 0.06% on the day, as we approach the New York open. This follows a mixed session where the cash index dipped 0.09% to 51667. We’re seeing a slight recovery in tech futures, which is providing…
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Where we are: USD/CAD is trading at 1.4238, up 0.23% on the day and pushing towards the upper end of its overnight range. We’ve seen a steady grind higher since the London open, with price action now sitting above the prior New York close. The immediate focus is on whether we…
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Where we are: Bitcoin is trading just north of $62,700, a modest gain of 0.16% on the day. This level puts it slightly above yesterday’s New York close, but the intraday range has been tight, reflecting a market waiting for fresh direction. We’ve seen little follow-through from the overnight session, with…
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Where we are: The FTSE 100 is trading marginally higher at 10447, up 0.18% on the day. This modest gain sees it holding above yesterday’s New York close, carving out a tight range in early European trading. Overnight action saw a mixed picture across Asia and Europe, with the Nikkei and…
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Snapshot: AUD/USD trades at 0.6894, down 0.39% on the day, as traders brace for a crucial domestic CPI print. The Reserve Bank of Australia remains firmly in a hawkish hold, signalling readiness to hike further if inflation pressures persist, making today’s inflation data the primary driver for the Aussie. The RBA’s…
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Snapshot: WTI Crude trades at 71.06, down 2.94% overnight. The dominant domestic driver is the significant draw in EIA US Crude Stocks, which fell by 8.26 million barrels as of June 12th, signalling robust demand and drawing down inventories to levels that could support prices. EIA US Crude Stocks: -8,263k bbl…
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Snapshot: The Nikkei 225 is trading down 0.88% at 69,175, extending yesterday’s losses. The primary driver remains the Bank of Japan’s recent Summary of Opinions, which indicated policymakers are leaning towards continued rate hikes, fueling fears of tighter financial conditions. This domestic concern is amplified by a broader tech selloff in…
